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A restructuring of board members, including the resignation of Chairman Ray Lane, is viewed as a positive step in Hewlett-Packard's turnaround strategy, according to industry watchers, and will help CEO Meg Whitman's intentions to have HP regain market share and industry prominence. Company director Ralph Whitworth is serving as interim board leader until a permanent replacement is named.

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Hewlett-Packard has submitted paperwork to the Securities and Exchange Commission for the creation of Hewlett-Packard Enterprise ahead of the planned Nov. 1 split of HP into HPE and HP Inc. The company says it's not required to file paperwork for HP Inc. because it will be a continuation of the parent company. CEO Meg Whitman will be head of HPE, while Dion Weisler will lead HP Inc.

Hewlett-Packard is scheduled to divide itself into two companies on Nov. 1, but it still wants to make acquisitions and invest in startups, CEO Meg Whitman says. "On the hardware side, just as we bought Aruba, there may be some smaller storage companies that we're interested in," Whitman says.

Hewlett-Packard continued to shed profits in its second fiscal quarter as it prepares for the company to split into two separate businesses in October. HP saw its net income drop by 21% over the quarter on a 7% decline in revenue. CEO Meg Whitman said the results solidify her belief that the best way to optimize investment dollars going forward is to separate HP's enterprise and personal computing divisions.

Meg Whitman will retain her position as CEO of Hewlett-Packard Enterprise and Dion Weisler will take the lead at HP Inc., the company's printing and PC offshoot, when HP officially splits this year. The executives in most senior positions have already been named, with Whitman keeping many under her command, but a few under Weisler have yet to be filled.

Hewlett-Packard has approached other companies about selling some of its trove of mobile-computing patents, including those related to WebOS -- the wireless platform HP acquired from Palm in 2010 -- according to a Bloomberg report citing CEO Meg Whitman's desire to bolster the bottom line. The technology company has reportedly lifted some of the restrictions on the patents that might have given potential buyers second thoughts.